Property taxes on median-valued homes in Wisconsin will likely go up this year, according to revised estimates by the state Legislature’s nonpartisan budget office.
While the increase would be modest, it would wipe out the property tax cut that Gov. Scott Walker called for when he introduced his budget and touted frequently after he signed it into law.
The Legislative Fiscal Bureau estimated in July that property taxes on a typical Wisconsin home would go down by $1 this fiscal year. In a letter to lawmakers Thursday, the Fiscal Bureau revised that estimate to a $16 increase.
Stay informed on the latest news
Sign up for WPR’s email newsletter.
Bureau Director Bob Lang said most of the increase is due to home values growing faster than values for other properties, like manufacturing plants and commercial real estate. Slightly higher school debt service payments and a lower state lottery credit drove the rest of the jump.
If the new estimate holds, it would represent a property tax increase of 0.6 percent this year. Overall, property taxes on the typical home would still be 3.9 percent lower than when Walker took office.
Editor’s note: An earlier version of this story incorrectly listed the author of this story. It was written by Shawn Johnson.
Wisconsin Public Radio, © Copyright 2024, Board of Regents of the University of Wisconsin System and Wisconsin Educational Communications Board.
